In the early years of trading cryptocurrencies, I, like many others, stayed up late watching the markets, chasing highs and cutting losses, losing sleep over it. Later, I gritted my teeth and stuck to a simple method, and surprisingly survived, gradually starting to stabilize my profits.
Looking back now, while this method is simple, it works: 'If I don’t see signals I’m familiar with, I won’t act!'
It's better to miss a trade than to place orders recklessly.
Relying on this iron rule, I can now stabilize my annual return rate at over 50%, and I no longer have to live by luck.
Here are a few survival tips for beginners, all based on my experiences from real trading losses:
1. Trade only after 9 PM
During the day, the news is too chaotic, with all sorts of false good news and false bad news flying around, causing the market to jump around like it's having a fit, making it easy to get tricked into the market.
I usually wait until after 9 PM to trade; by then, the news has stabilized, the candlesticks are cleaner, and the direction is clearer.
2. Take profits immediately
Don’t always think about doubling your money! For example, if you made 1000 U today, I suggest you immediately withdraw 300 U to your bank card and continue playing with the rest.
I've seen too many people who 'made three times but wanted five times,' only to lose everything on a single pullback.
3. Look at indicators, not feelings
Don’t trade based on feelings; that’s just guessing.
Before trading, check these indicators:
• MACD: Is there a golden cross or a death cross?
• RSI: Is it overbought or oversold?
• Bollinger Bands: Is there a squeeze or a breakout?
At least two of the three indicators must give a consistent signal before considering entering the market.
4. Be flexible with stop-losses
When you have time to monitor the market, if you’re in profit, manually move the stop-loss price up. For example, if the purchase price is 1000 and it rises to 1100, raise the stop-loss to 1050 to secure profits.
But if you have to go out and can't monitor the market, set a hard stop-loss at 3% to prevent a sudden crash from wiping you out.
5. Withdraw profits weekly
Profits that aren’t withdrawn are just a numbers game!
Every Friday without fail, I transfer 30% of my profits to my bank card, and continue to reinvest the rest. Over time, this will grow your account.
6. There are tips for reading candlesticks
• For short-term trading, look at the 1-hour chart: if the price has two consecutive bullish candles, consider going long.
• If the market is stagnant, switch to the 4-hour chart to find support lines: consider entering the market when it approaches the support level.
7. Avoid these pitfalls!
• Don’t use leverage greater than 10x; beginners should keep it under 5x.
• Avoid coins like Dogecoin and Shitcoin; they are easy to get scammed on.
• Limit yourself to a maximum of 3 trades a day; too many can lead to losing control.
• Absolutely do not borrow money to trade cryptocurrencies!!
One last piece of advice for you:
Trading cryptocurrencies is not gambling; treat it like a job, clock in and out daily, shut down at the end of the day, eat and sleep when you should, and you'll find that—your profits will be steadier.
